Eye on Lithium: Who needs grid storage? EV batteries could fill the gap

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• Lightning Minerals identifies a lithium-rubidium anomaly above 60ppm at Dundas
• Power Minerals confirms mineral resource potential at Salta
• Infinity Lithium welcomes court decision to ratify the correct granting of Investigation Permit Ampliación Valdeflórez

All your lithium news, Monday January 23.

A new study by academics at Leiden University in the Netherlands suggests EVs outfitted with vehicle-to-grid (V2G) technology could supply all of the world’s short term grid energy storage requirements by 2030.

Without any second-use batteries in stationary storage, the study highlights grids would require vehicle-to-grid participation rates of roughly 12–43%.

“EV batteries can be used while in the vehicle via vehicle-to-grid approaches, or after the end of vehicle (when they are removed and used separately to the chassis in stationary storage),” the authors write.

“EVs can also be used to store electricity and deliver it back to the grid at peak times.”

The study says the utilisation of EV batteries could improve the flexibility of supply while reducing capital costs and material related emissions.

“ Harnessing this potential will have critical implications for the energy transition and policymakers should be cognisant of the opportunities,” the authors stress.

Here’s how ASX lithium stocks are tracking:

A total of 58 stocks finished in the green, another 52 fell flat, and 28 closed in the red.

Who’s got news out?

LIGHTNING MINERALS (ASX:L1M)

A soil sampling program at the Dundas Project has identified a lithium-rubidium anomaly above 60ppm on tenement E63/2001.

A peak assay results of 112ppm lithium was returned, as well as multiple samples exceeding 60ppm.

Shares in L1M surged some 10pc on the news this morning.

L1M’s CEO Alex Biggs says anomalies along the same interpreted structure with known lithium mineralisation to the north and south are also very promising.

“We are continuing to investigate the source of anomalies, both on tenement E63/2001 and our other Dundas tenements where soil sampling is continuing.”

POWER MINERALS (ASX:PNN)

Results from a recently completed Vertical Electrical Sounding (VES) geophysical survey at Pocitos and Arizaro salares within the Salta Lithium Project in  Argentina has confirmed mineral resource potential, the company says.

According to PNN MD Mena Habib the survey indicates potential lithium brine within the active salar and adjacent alluvial aprons.

“Importantly, our increased understanding of the near-surface brine and freshwater distribution are critical inputs for environmental studies for our project development plans and positive community relationships in the arid Puna region of Argentina,” he says.

INFINITY LITHIUM (ASX:INF)

INF has welcomed the Court’s decision to ratify the correct granting of Investigation Permit Ampliación Valdeflórez, which allows extraction activity to take place at the San José Lithium Project in Spain.

Areas within the project tenure can facilitate the construction of a lithium hydroxide plant and portal to the lithium resource under urban planning requirements.

AUROCH MINERALS (ASX:AOU)

Drilling has kicked off at Auroch’s 80pc owned Nevada lithium project testing two out of five lithium prospects.

The 3,000m program will focus on the Siebert Formation, which comprises tertiary aged sediments from or near surface, where exploration for claystone lithologies elevated in lithium is being carried out.

Post drilling, further work is planned at the remaining three prospects, Traction, Lone Mountain and Heller to get them drill ready in the coming months.

GATEWAY MINING (ASX:GML)

Gateway has signed a lithium exploration farm-in agreement at the Montague Project with SensOre (ASX:S3N), utilising S3N’s proprietary SensOre DPT technology to generate targets for field activities.

SensOre is set to fund up to $4.5m in lithium-focused exploration over 4.5-years to earn 80% of the lithium rights at Montague and Gateway will retain all other mineral rights within the tenements, subject to the agreement.

“This is a fantastic opportunity for Gateway, allowing a specialist exploration group to bring their proprietary technology to potentially unlock the lithium potential of our tenements – without Gateway having to redirect resources away from its core gold exploration activities,” GML MD Mark Cossom says.

“In the meantime, we will continue to get on with our expansive 2023 exploration campaign, targeting step-change discoveries and resource growth opportunities.”

CRITICAL RESOURCES (ASX:CRR)

Assays to determine concentrate grade and recovery/ yield estimates on samples from a metallurgical test work program that began in October 2022 are due in March.

CRR says the work is being conducted concurrently with a fully funded 20,000 meter drilling campaign at Mavis Lake.

The test work program is a key step towards initial scoping study work for the Mavis Lake Project, and CRR will provide further updates on the next phase of development in the coming weeks.

CULLEN RESOURCES (ASX:CUL)

Assays have been received for 270 soil samples collected mainly across granites and their contacts at Bromus South, as access tracks allowed, Cullen says.

The Ultrafine soil fraction samples are believed to be the first ever testing for indications of rare metal pegmatites across the project’s sandplain, erosional-residual and depositional terrains.

Several pegmatites were observed in a railway cutting which exposes a granite-greenstone contact corridor considered prospective for lithium-bearing pegmatites, with assays pending

Now a reconnaissance air core drilling program is planned to test both gold, and lithium in pegmatite target areas following heritage clearance.

MANY PEAKS GOLD (ASX:MPG)

MPG has been granted six mineral licences at covering extensive outcropping pegmatites in an emerging lithium district in Newfoundland, Canada in an area referred to as the Aska Lithium Project.

Aska is hosted in the same terrane with similar age of intrusions as the major lithium deposits of the Avalonia lithium belt in Ireland and the Piedmont Deposits and Kings Mountain Lithium Mine along with other major lithium deposits in the eastern United States.

MPG believes this corridor in Newfoundland represents an emerging district for highly demanded lithium oxide and lithium carbonate products strategically positioned with access to both European and North American markets.

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